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Dollar bonds start the week in the red on Wall Street and country risk hovers around a key level

The securities that operate in the New York Stock Exchange They started the session with generalized falls. Those that decrease the most are Global 2035 (-0.8%) and is followed by bonar 2035he Global 2038 and 2041 all with a decline of 0.6%. Meanwhile, the only one that goes up is Bonar 2041 (+0.1%).


In that framework, the country risk is located in the 1993 basic pointsas measured by JP Morgan.

Markets remain cautious

Behind the defeat of the ruling party in the treatment of an ambitious omnibus law in Congress, which hit the markets and plunged investors into a sea of doubts according to the implementation of your government plandollar bonds operating on Wall Street continue to fall due to the investment caution in which the market has plunged.

“The feeling that Congress left is that there is not much intention to push the change that the people proposed with their vote in November, with 56%,” the presidential spokesperson said at a press conference. Manuel Adorni.

In this lack of collaboration (from Congress) we will evaluate which path to take, and with the rest of the issues we have constitutional tools“, he pointed.

For his part, the analyst Salvador Di Stefano He assured that the failure of the law left a “bitter taste“to investors who had bought sovereign bonds in dollars and shares. “We will have to wait for the market to refine, to rearrange itself, to see how the prices and parities are to see what investment path is adopted,” he added.

The Minister of Economy, Luis Caputorecently said that The non-approval of the law does not affect the economic program, which seeks to stabilize fiscal accounts. “You can’t spend more than you raise,” she stated categorically.

He central bank (BCRA) remains firm with the “crawling peg” of 2% monthly and analysts estimate that the controlled devaluation of the peso induces a strong exchange rate delay given the high inflation that hits the economy and is estimated between 20 and 25% for the first month of the year.

The current exchange controls keep the peso parity under control and They allow the BCRA to accumulate reserves at a time when the liquidation of foreign currency from the grain exporting sector is expected..

Argentine shares on Wall Street

The papers of Argentine companies listed on the New York Stock Exchange operate with generalized increases, led by Take off (+2.5%); Edenor (+1.8%); Bioceres (+1.5%) and Free market (+1.2%). Meanwhile, those that decrease the most are Telecom (-1.6%); Central Port (-0.4%) and Pampa Energy (-0.4%).

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